Gail in talks with Algeria, Nigeria to import LNG

Gail (India) is in talks with Algeria and Nigeria for sourcing five million tonnes of liquefied natural gas (LNG) on a long-term basis from 2009. ?The talks are at an advanced stage for getting LNG on a longterm basis,? a senior Gail official said here on Friday. He said the company is looking to source equal amounts of 2.5 million tonnes from both countries.

?In Algeria, the company is negotiating with Sonatrach, while in Nigeria, it is talking to a government firm,? he said. According to sources, Gail is scouting LNG suppliers from at least six countries. Earlier this year, Gail had contracted a spot cargo of 1,35,000 cu m of LNG from Algeria at an ex-shipment price of $9.28 per million British thermal unit (mBtu).

Source: The Economic Times, New Delhi
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